VANCOUVER, Aug. 9, 2018 /CNW/ - Universal mCloud Corp (TSXV:
MCLD) (OTCQB: MCLDF) (Cusip 91373W107) ("mCloud" or the "Company"),
a leading provider of Artificial Intelligence and Analytics
("AI&A") and IoT-connected asset care technology solutions, is
pleased to announce that its OTCQB listed common shares are now
eligible for electronic clearing and settlement through the
Depository Trust Company in the United
States.
DTC eligibility with The Depository Trust Company, the largest
securities depository in the world, will allow for more efficient
and economic trading of the Company's common shares on the OTCQB
and increase its visibility and accessibility with U.S.
investors.
The Company's common shares will continue to trade on the
Toronto Venture Exchange under the symbol "MCLD".
"Our DTC eligibility will provide U.S. investors with the
ability to efficiently trade mCloud's common shares," said
Russ McMeekin, President and Chief
Executive Officer of mCloud. "As mCloud's shares become more
broadly accessible, I would like to reiterate the opportunity
ahead. mCloud is a pure play AI and Analytics Cloud company
competing in the Global AI and Machine Learning Market, which
according to the International Data Corporation's Worldwide
Semiannual Artificial Intelligence Systems Spending Guide, is
expected to grow to $57.6 Billion by
2021."
The Company would also like to provide an update on several key
corporate initiatives, building on the update previously provided
on May 01, 2018 which covered the
first six months since its public initiation on October 13, 2017. Notable updates since early
May 2018 include:
- Commenced signing commercial arrangements in China both in Smart Buildings and Smart
Wind
- Added an additional major multi branch Corporate Banking
Customer with onboarding to begin later this summer
- Completed numerous Wind Turbine Blade Scans proving foundation
to its AI Damage Assessment Analytics
- Signed an agreement that will provide mCloud over 150,000 wind
turbine blade images which is expected to lead into multi-year
commercial arrangements later in 2018 with strong carry-over into
2019
- Announced on June 21, 2018, the
acquisition of 100% of Flow Capital's Royalty Agreement with Agnity
Global, and will be releasing its first fully functioning AssetCare
Mobile on the RealWear and Agnity Platform later this summer
- Continued to attract and add industry leading talent to its
team, including the recent appointment of Dave Weinerth as President of mCloud Smart
Buildings, as announced on June 4,
2018
Commenting on the progress, Mr. McMeekin stated, "We are pleased
with the progress we have made over the last three months. We are
particularly excited about some of our recent developments in
China, where we have received
positive feedback on our AI/Cloud technology with remote mobile
applications."
About Universal mCloud Corp.
Universal mCloud Corp.
is headquartered in Vancouver, BC
with technology and operations centers in San Francisco, CA and Bristol, PA. mCloud is an IoT connected asset
care cloud solution company utilizing connected IoT devices,
leading deep energy analytics, secure mobile and 3D technologies
that rally all asset stakeholders around an Asset-Circle-of-Care™,
providing complete real-time and historical data coupled with
guidance and advice based on deep analytics and diagnostics
resulting in optimal performance and care of critical equipment.
It's all about the asset. The powerful and secure AssetCare™
environment is accessible everywhere, 24/7 through standard mobile
devices, ruggedized headsets, and web browsers. For more
information, visit www.mCloudCorp.com.
The TSX Venture Exchange has in no way passed upon the merits of
the Transaction. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Universal-mCloud Corp